Member Info for Rekash

Happy to wait until the 21st, rather than further postponement.

I see Kibo is now sitting at 1c.

Hopefully

Thanks Dave

This should surely have a positive impact on Kibo current 2c share price , correct?

Mast Energy Developments PLC ('MED' or 'the Company')

MED Binding Joint Venture Completion Update

Mast Energy Developments PLC, the UK-based multi-asset owner, developer and operator in the rapidly growing flexible power market, announces that further to its previous announcements dated 12 July 2023 and 4 August 2023, respectively, it has further extended the completion long-stop date for the first definitive and binding Joint Venture Agreement ('JVA'). The revised completion date is now expected around 21 September 2023. The further extension is required to allow the JV investor consortium to complete the compulsory statutory process for the international transfer of funds associated with any investment that qualifies as an outward direct investment. Upon completion of this process, funds will be promptly transferred into the UK to complete the JVA investment. This was not previously a requirement but follows as a result of Seira Capital being unable to complete the first definitive and binding JVA, for the reasons set out in the RNS of 4 August 2023 and which necessitated a rearrangement of the investor consortium participation as previously explained.

Pieter Krügel, CEO of MED, commented: "We are pleased to receive the full and ongoing support and co-operation from the JV investor consortium and with the progress made towards completing the JVA investment. The parties are fully committed to finalise the statutory arrangements required to ensure the successful completion and transfer of funds as quickly as possible. We are confident that we will be able to complete the transaction in accordance with the revised long-stop date."

In addition to reaching a significant milestone with its Rochdale project, with the local Council finalising a review of the site's design and construction and officially granting it planning consent, MED has also finalised and entered into a first definitive and binding Joint Venture Agreement ('JVA') with an institutional investor-led consortium (the 'Institutional Investor'). As reported in an MED RNS dated 4 August 2023, the completion date of the JVA has been extended and is now expected around 31 August 2023. Under the JVA, the Institutional Investor will inject all required capital into the joint venture ('JV') with an expected total investment of c. £5.9m, with no funding contribution required from MED.

Action time...lol

We are getting hammered today :-(